Orange County Transportation Authority

Finance and Administration Committee Agenda

Wednesday, November 15, 2023 at 10:30 a.m.

Board Room, 550 South Main Street, Orange, California

Committee Members

Michael Hennessey, Chairman

Patrick Harper, Vice Chairman

Andrew Do

Jamey Federico

Brian Goodell

Steve Jones

Vicente Sarmiento

Any person with a disability who requires a modification or accommodation in order to participate

in this meeting should contact the Orange County Transportation Authority (OCTA) Clerk of the

Board's office at (714) 560-5676, no less than two business days prior to this meeting to enable

OCTA to make reasonable arrangements to assure accessibility to this meeting.

Agenda Descriptions

Agenda descriptions are intended to give members of the public a general summary of items of

business to be transacted or discussed. The posting of the recommended actions does not

indicate what action will be taken. The Committee may take any action which it deems to be

appropriate on the agenda item and is not limited in any way by the notice of the recommended

action.

Public Availability of Agenda Materials

All documents relative to the items referenced in this agenda are available for public inspection at

www.octa.net or through the Clerk of the Board’s office at the OCTA Headquarters, 600 South

Main Street, Orange, California.

Meeting Access and Public Comments on Agenda Items

Members of the public can either attend in-person or listen to audio live streaming of the Board

and Committee meetings by clicking this link: https://octa.legistar.com/Calendar.aspx

In-Person Comment

Members of the public may attend in-person and address the Board regarding any item. Please

complete a speaker’s card and submit it to the Clerk of the Board or notify the Clerk of the Board

the item number on which you wish to speak. Speakers will be recognized by the Chairman at the

time the agenda item is to be considered. Comments shall be limited to three minutes.

Written Comment

Written public comments may also be submitted by emailing them to ClerkOffice@octa.net, and

must be sent by 5:00 p.m. the day prior to the meeting. If you wish to comment on a specific

agenda Item, please identify the Item number in your email. All public comments that are timely

received will be part of the public record and distributed to the Board. Public comments will be

made available to the public upon request.

Call to Order

Pledge of Allegiance

Director Federico

Closed Session

There are no Closed Session items scheduled.

Special Calendar

There are no Special Calendar matters.

Consent Calendar (Items 1 through 5)

All items on the Consent Calendar are to be approved in one motion unless a Committee

Member or a member of the public requests separate action or discussion on a specific item.

Approval of Minutes

Clerk of the Board

Recommendation

Approve the October 25, 2023 minutes of the Finance and Administration Committee

meeting.

Attachments:

Minutes

OCTA Store Operations, Internal Audit Report No. 24-504

Jonathan Thompson/Janet Sutter

Overview

The Internal Audit Department of the Orange County Transportation Authority has

completed an audit of OCTA Store Operations. Based on the audit, controls are adequate

and operating. Management has implemented standard operating procedures that ensure

proper safeguarding of cash, transponders, and pass fare media and exercises

appropriate security over the premises.

Recommendation

Receive and file OCTA Store Operations, Internal Audit Report No. 24-504, as an

information item.

Attachments:

Staff Report

Attachment A

Orange County Employees Retirement System Early Payment for Fiscal Year

2024-25

Robert Davis/Andrew Oftelie

Overview

The Orange County Employees Retirement System has offered an early payment discount

to member agencies of seven percent if they elect to prepay their contributions for fiscal

year 2024-25. Advance payments must be received by January 11, 2024. The estimated

savings for the Orange County Transportation Authority over the next year and a half under

this payment option will total approximately $345,000. Board of Directors’ authorization is

requested for the early payment option.

Recommendation

Authorize the early payment of approximately $34.8 million by January 11, 2024, to the

Orange County Employees Retirement System, for employer contributions for fiscal year

2024-25.

Attachments:

Staff Report

Update on the Loan Agreements with the Cities of Anaheim, Placentia, and the

West Orange County Water Board

Sam Kaur/Andrew Oftelie

Overview

The Orange County Transportation Authority Board of Directors authorized loan

agreements with the cities of Anaheim, Placentia, and the West Orange County Water

Board. This report provides the annual update on the status of each of these agreements

as requested by the Board of Directors.

Recommendation

Receive and file as an information item.

Attachments:

Staff Report

Attachment A

Fiscal Year 2023-24 First Quarter Grant Reimbursement Status Report

Sam Kaur/Andrew Oftelie

Overview

The Quarterly Grant Reimbursement Status Report summarizes grant activities for the

Orange County Transportation Authority Board of Directors. This report focuses on activity

for the first quarter of fiscal year 2022-23, covering July through September 2023.

Recommendation

Receive and file as an information item.

Attachments:

Regular Calendar

Fiscal Year 2022-23 Audited Financial Statements and Independent Auditor's

Reports on Internal Control Over Financial Reporting

Rima Tan/Andrew Oftelie

Overview

The Orange County Transportation Authority is required to obtain an independent auditor’s

opinion on various financial statements and schedules. Crowe LLP, an independent

accounting firm, has completed its annual audit of the Orange County Transportation

Authority for fiscal year 2022-23. In addition, a report has been issued on the results of

additional analysis performed by Crowe LLP, to assist management in determining

compliance with certain state requirements.

Recommendations

Receive and file the fiscal year 2022-23 audited financial statements and

independent auditor’s report on internal control over financial reporting as

information items.

Direct staff to implement auditor recommendations related to findings over internal

controls.

Attachments:

Discussion Items

Public Comments

Chief Executive Officer's Report

Committee Members' Reports

10.

Adjournment

The next regularly scheduled meeting of this Committee will be held: